Innovation and Commercialisation: Importance, New Product Development, Business Innovation Case, Tools, and Conclusion

Innovation and
Commercialisation
PART 2

Table of Content
• Introduction
• Importance of commercial funnel and application of new product development
• Build business innovation case for the organization including source of funding
• Tools that organizations use to develop, retain and protect knowledge and intellectual property
• Conclusion
• References

Introduction
Innovation and commercialization are very crucial and
it is important for the lives, innovation are very
important as it eases the work easy and also help in
doing in new and better ways. For understanding about
innovation and commercialisation concept, focus is on
Essence Drinks Company. It is a food and beverage
venture established and managed by Akshay Kumar.

Importance of commercial funnel and application
of new product development
• Commercial funnel is the marketing way which is used by the organization by which they find, qualify
and trade their mechanized to the audience. It breaks down the journey of awareness to purchase stage.
The importance of the funnel is that it create awareness and also provide a action section for the
organization.